Saturday, December 3, 2022

Bloomberg: US asks banks to keep doing business with some Russian firms

by The Kyiv Independent news deskNovember 8, 2022 5:40 am
Share

The U.S. Treasury and State Departments have quietly urged large banks, including JPMorgan and Citigroup, to keep doing business with some strategic Russian firms, Bloomberg reported, citing unnamed sources familiar with the matter. 

According to Bloomberg, the effort signals the Biden administration is looking to strike a balance between hindering Russia's invasion of Ukraine and avoiding adverse impacts of sanctions designed to punish Russia for the war.

The Kyiv Independent news desk
The Kyiv Independent news desk

We are here to make sure our readers get quick, essential updates about the events in Ukraine.

Independent journalism
for an independent Ukraine
Independence is an expensive currency. Both Ukraine and its journalists are paying a high price to preserve its independence. Support Ukraine's trusted journalism in its darkest hour.